Trade Initiation for the Day

FKLI April 2009 contract opened at 864.  Wait for price to reach 870 for a short signal or 856 for a long signal.

Update at 8.45 am – A short signal was triggered at 870.  Place stop loss 5 points away at 875 while take profit 5-7 points away at 865 to 863.

Update at 2.30 pm – FKLI opened at 865, thus profit taking point touched.  5 points win for today!!!

Trading Tips for the Day

DJIA tumbled 254.16 points to close at 7522.02 points when the White House rejected plans to turnaround GM Corp. and Chrysler.  Expect the KLCI Futures to open lower.  For the April 2009 contract, the resistance level is at 870 so one can attempt to short at around that point, support level is at 856 and one can attempt to long around there if the market price opens between these two figures. Target profit is about 5-7 points. If price breaks above 877 a breakaway trade can be initiated by going long, and if price breaks below 849 one can attempt to go short. Updates on trade initiation will follow, stay tuned.

Disclaimer

Trade Initiation for the Day

Update at 9.15 am – FKLI reached 880 and triggered a long signal.  Place stop loss 5 points away at 875 while take profit 5-7 points away ta 885 to 887.

Stop loss triggered just before lunch.  Loss of 5 points for today

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Trade Initiation for the Day

FKLI opened at 893 and then went up to 895 so a long signal was triggered at 893.5.  Place a stop loss 5 points away at 888.5 while take profit 5-7 points away at 898.5 to 900.5.

Update at 10.20 am – Cut loss point triggered at 888.5.  Lost of 5 points.

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Trade Initiation for the Day

FKLI March 2009 contract  opened at 883 and price made a slight dip to 881, triggering a long signal there.  Place cut loss 5 points away at 876 while take profit 5-7 points away at 886 to 888.

Update at 8.53 am – FKLI touched our profit taking point 886.  Another 5 points profit today!!  This is early, can go home already…:)

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Trade Initiation for the Day

Update at 4.32 pm – FKLI price reached 882 and triggered a short signal there.  Place cut loss 5 points away at 887 and take profit 5-7 points away at 877 to 875, or close position by day’s end to make this a day trade.

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